FCA (FCAU) said in a release that it plans to sell about 17 million common shares—equal to a 9% stake—of the Italian luxury car company. The shares will price at between $48 and $52, and they will trade under its RACE ticker on the New York Stock Exchange.

FCA is floating 10% of Ferrari; it’s offering a 9% share on the market and underwriters have an option for a 1% stake. After the sell-off, FCA will own 80% of Ferrari, which it plans to distribute to its shareholders early next year. The remaining 10% of the company belongs Piero Ferrari, the son of the Ferrari founder Enzo Ferrari.

The initial public offering is the first in a series of transactions aimed at separating Ferrari from FCA.